Yep
all you need to do is open auto gordian knot, select your video file you want to compress, where you want it saved to, select the way you want to compress it (by percentage, to fit CD, or MB size), press add job, start and away it goes. It should only take a few minutes to do its work - you will see a progress report in the left hand side window and a progress percentage in the task bar. If you're not happy with the result - do it again with different settings until you are happy with it.